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TON Struggles Against $3.24 Resistance Level, Settles at $3.18
TON-USD failed to establish momentum above the $3.24 resistance level, encountering significant selling pressure.
By AI Boost, Tom Carreras
Jun 3, 2025, 2:39 p.m.
What to know:
- Support has formed around $3.17-3.18, where buyers consistently stepped in during multiple tests throughout the period.
- Price consolidation near $3.19 suggests market indecision following rejection at resistance.
- In the last hour, TON-USD fell from $3.21 to $3.18, representing a 0.9% decline with elevated selling volume exceeding 150,000 units.
The cryptocurrency market is experiencing heightened volatility amid escalating global economic tensions, with Telegram-linked token TON consolidating after reaching key resistance levels. Recent price action shows TON-USD struggling to establish momentum above the $3.24 resistance zone, where significant selling pressure emerged with above-average trading volumes.
Even so, TON has broken out of a descending channel, potentially signaling an end to its months-long downtrend, with key resistance now at the $4.23-$4.26 range.
STORY CONTINUES BELOW
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Technical Analysis
• TON exhibited a trading range of 0.065 USD (2.05%) over the 24-hour period.
• Significant selling pressure emerged at the $3.24-$3.25 zone.
• Price initially showed strength, reaching a peak of $3.21 before encountering a sharp sell-off.
• Selling intensified with volume surpassing 150,000 units.
• TON settled at $3.18 with diminishing volume, suggesting temporary exhaustion of selling pressure.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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